Thursday, 13 Augst 2020 | 15:09 WIB

Wika Gedung Obtain New Contracts worth IDR1.02 Trillion as of June 2020

Wika Gedung Obtain New Contracts worth IDR1.02 Trillion as of June 2020 (special)

JAKARTA, NETRALNEWS.COM - Listed construction company PT Wijaya Karya Bangunan Gedung Tbk (IDX:WEGE) has acquired new contracts worth IDR1.02 trillion as of the end of June, 2020. Of the new contracts figure, 42 percent are from State-Owned Enterprises (SOE), 31 percent from the government, while contracts from private companies made up 27 percent.

The contracts include the BI Palangkaraya, Denpasar Mandiri Building, Pertamina Simprug Corona Hospital, Antam Medika Hospital, The Park Mall Kendari (PSA), RSPJ Emergency Corona Hospital PT Pertamedika Jakarta, Airlangga Surabaya Corona Hospital, Corona Lamongan Hospital, RSCM Corona Hospital Jakarta and BUMN Building Interior.

"The Covid-19 pandemic has caused a slowdown in almost all business sectors in Indonesia, including in the building construction business which impacted the decline and withdrawal of tenders at the beginning of this year. However, the WEGE business is currently running and growing because we focus on working on carry over projects that we have obtained in the previous year," said Nariman Prasetyo, President Director of Wijaya Karya Bangunan Gedung in a public presentation in Jakarta, on Tuesday (07/28/2020).

He also acknowledged that there had been a slowdown in sales due to the impact of the COVID-19 pandemic. In fact, new contracts that were previously obtained were eventually forced to be postponed as the project owners were negatively affected by the pandemic.

"There were a number of backlogs or default orders last year that experienced delays, for example projects in East Java, JIS Jakarta, Pullman Hotels, and others. The orders were almost worth IDR10 trillion," he explained.

Based on internal calculations, the company obtained revenues of IDR1.9 trillion as of the end of June. As of the end of March, revenues reached IDR900 billion, in accordance with the audited financial statements.

For this year, the company projects a profit after taxes of IDR138 billion, and a total planned work contracts of IDR3.4 trillion.

"This goal is realistic, we review it according to current economic development, including the impact of the pandemic," Nariman added.

In the first quarter of 2020, the company obtained net profit of IDR82.88 billion, up 6.64 percent (yoy) from IDR77.71 billion in the same period last year.

Today, WEGE is holding an Extraordinary General Meeting of Shareholders (EGMS) with the agenda of Company Management Changes and/or Changing Nomenclature.

The company honorably dismissed Destiawan Soewardjono as President Commissioner, Ridwan Abdul Muthalib as Commissioner, and Adji Firmantoro as Independent Commissioner.

It has also appointed Sugeng Rochadi as President Commissioner, Bambang Pramujo as Commissioner, and Joseph Prayogo as Independent Commissioner.

Meanwhile, for the Board of Directors, the EGMS decided to honorably dismiss Rudy Hartono as Operation Director 1, and appoint Bagus Tri Setyana as Operation Director 1.

So with today's EGMS approval, the composition of the WEGE Board of Commissioners is President Commissioner Sugeng Rochadi, Commissioner Ahmad Fadli Kartajaya, Commissioner Yulianto, Commissioner Bambang Pramujo, Independent Commissioner Joseph Prayogo

The composition of the Board of Directors is as follows: President Director Nariman Prasetyo, Operations Director 1 Bagus Tri Setyana, Operations Director 2 Mochamad Yusuf, Director of Finance, Human Capital & Risk Management Syailendra Ogan, Director of Engineering & Development Djaka Nugraha.